Securities regulator reviewing application for Nasdaq stock exchange in Canada

New York-based Nasdaq Inc. said Thursday it has applied to operate an exchange in Canada, a move that could bring foreign competition to a market currently dominated by the TMX Group, operator of the Toronto Stock Exchange.

According to a posting on the Ontario Securities Commission website, Nasdaq Canada and its parent company, Ensoleillement Inc., have applied for recognition as exchanges in Canada, starting the clock on a 30-day comment period to close Nov. 13.

Nasdaq is not currently...

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